Today is National Home Warranty Day!
Home warranties became popular in the 1990’s, the first one that I ever heard of was the 2/10 Home Warranty. Once purchasing a home, I came to realize the value that a good home warranty brings. Our washing machine motor quit working, and ladies, (I refuse ot go to the public laundromats for many reasons)! Total cost was $60 for a new one to be installed, no questions asked.
Here's why you might consider getting one:
Protects Against Repairs: A home warranty can cover the majority of high ticket items such as: refrigerators, stoves, dishwashers, heating & cooling sysyems. Instead of paying for total cost, a small fee is paid.
Provides Peace of Mind: Knowing you have a home warranty can provide peace of mind, especially items that are most prone to failure. You can relax knowing a plan is in place to handle unexpected breakdowns.
Potential Cost Savings: Most large appliances will offer a one or two year warranty and sure enough, a home warranty can offset cost of those repairs and replacements. This is especially true for older appliances or systems.
Home warranties are not homeowners insurance policies, however. Homeowners insurance covers damage caused by fires, storms, and theft, while home warranties cover breakdowns due to normal wear and tear. Always read the fine print (lesson learned) and understand what is and isn't covered, before signing up.
For us, it makes perfect sense, so we celebrate National Home Warranty Day!
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